RINL clocks 34% revenue growth in September

Sales volume of the company rose to 2.73 lakh tonnes from 1.68 LT in September, 2012

Buoyed by a whopping 63% volume growth, Rashtriya Ispat Nigam's sales revenue rose by 34% to Rs 1,222 crore in September.

 

RINL, the Vizag-based PSU steel maker, had clocked Rs 913 crore sales revenue in the same month last year, a source in the company said.

 

The sales volume of the company rose to 2.73 lakh tonnes (LT) from 1.68 LT in September, 2012.

 

Sales of valued-added steel, which fetches better price, stood at 1.77 LT compared to 1.37 LT a year earlier.

 

Production of saleable steel increased by 23% to 2.46 LT against two LT a year ago. It produced 3.22 LT of hot metal during the month.

 

For the April-September period of current fiscal, sales of the company stood at 12.9 LT compared to 11 LT during the same period last fiscal.

 

RINL produced 14.6 LT saleable steel during the six-month period, a growth of 11%. Hot metal production, however, grew by just 3% to 19.3 LT.

 

Sales revenue of the company during the April-September period rose marginally to Rs 5,798 crore over the same period last fiscal.